Texas has the third highest homeowners insurance in the nation. So if you’re shopping for homeowners insurance, here’s some news – Texas Farm Bureau Insurance is offering a 25 percent discount on your annual premium.

Dave Lieber, a Dallas Morning News columnist, says the company is asking the Texas Department of Insurance commissioner to approve the plan, citing that it’s getting to expensive to write insurance in certain counties.

“If there’s a dispute – this is the key part – it goes to arbitration,” Lieber says. “They pick the arbitrator, they pay the arbitrator and they also keep the arbitration settlement a secret. So they hold all the cards, but in return, you get that 25 percent discount.”

Many people may assume this is a good deal because they’ve never had to sue and don’t expect to. But Lieber says that homeowners who choose this route may not know what they’re getting themselves into, because dealing with insurance can be difficult. What’s more, he says that if this proposal is approved, other major insurance companies may follow suit.

“This is unprecedented – it’s against current policy standards from the Texas Department of Insurance,” Leiber says. “They don’t allow this kind of discount in exchange for giving up your constitutional right.”